FX.co ★ XAG/USD, SILVER

**Hello traders!** SILVER has been moving strictly within a small ascending channel for three weeks now, with its boundaries acting as support and resistance levels. The nearest support is located at the level of 71.04, and when the price reaches it, this point will be an excellent entry point for buying. The nearest resistance level is the daily high at 74.946, which is currently holding back the rise. As long as it is not broken, a decline towards the support is more likely. If the resistance is broken, the silver's uptrend will continue towards the upper channel boundary at 78.625, where it will also be possible to sell on a rebound.